Still money in mining

[JayKEy00]

Hey guys,

is there still money in mining or do you get only the costs of computer and energy back?

[Chrithu]

Depends on what you mine with.

Cost efficient GPUs can still get you a profit.

But to really earn some money you'd be better of with ASIC based miners.

[bt_spectro]

Hey guys,

is there still money in mining or do you get only the costs of computer and energy back?

For GPU mining, it depends on your electricity cost. Run the numbers based on cost of electricity, hash rate and price of bitcoin.

The consensus around here is GPU mining is no longer worth the cost, but I ran the numbers and figured that even if difficulty triples, at current bitcoin prices I will still make some money by keeping my computers on, something I already do anyways

[teeone]

Here is the site you want to look at:

http://www.bitcoinx.com/profit/

All depends on GPU or ASIC mining ...and what your electricity price is

[CryptoJunky]

I'm still mining and will continue to. If you have an interest in Bitcoin, it's not a bad idea to try your hand at mining. I'd recommend doing some extensive research and making only small investments to start.

[Gabi]

Currently mining hashrate is over 100THash/s

This means that yes, for some people it is profitable. Hashrate keep increase 

[jelin1984]

I think that gpu card for mining is dead only ASIC miner now

[picasso]

only ASIC can get money

[DMTechie]

ASIC is the not so distant future of mining..

Think of mining as a way to preserve wealth.

[Kurcoin]

Only if you are minning scrypt, keep your coin from scammers and wait the right momment to sell

[frobley]

It very much depends over what time period you are thinking.
People who started mining btc, ltc and have held for 2 years have done very well.
If you want to mine today and get rich tomorrow, then I doubt it.

[JuneRabbit]

only ASIC can get money

[gnode]

Many people underestimate the amount of electricity is used in mining. If you can get "free" power you can make a lot of money.

[zemansky]

I guess there is
At least in my country (Argentina)
Electricity is subsidized and buying dollars is restricted right now so BTC are bought/sold using dolar's black market price (more than 50% higher than the official rate)


 

[darksun22]

I travel a lot so I get to use hotel power lol.

Im in a condo in panama city right now so LOL.

As long as it does not crash my graphics card

[Chez.Savage]

Well there is if you buy ASICs but they generally cost alot of money

[abzaladin]

Depends on your cost of electricity also!

[senguier]

I usually leave my computer on when I am at work etc... so letting it run as a GPU miner does not really affect my power consumption to much. With that in mind, after about a month, I only have .25 btc. Looking into some of those 5ghz mining machines but not sure if I want to drop $250 into it.

[megadeth92]

I was searching for other companies that make ASIC miners (differente of butterflylabs, avalon)...., but I can't find any..
Someone knows about other ones?

[merve10495]

5ghz mining machines but not sure if I want to drop $250 into it.

Which 5Hgz mining machines are you looking at?

edit: There is also Terrahash for those that can only find Avalon and Butterfly labs, but I'd stay away from butterfly labs. Avalon is a lot more trustworthy imo.